Brand Management: Building Brand Equity

Audience

The target audience for this series is managers and marketing personnel who wish to learn to interpret the potential affects of various brand strategies and tactics and assess the value of any type of brand.

Objective

• Identify sources of brand equity.
• Utilize brand associations to manage brand identity.
• Identify how direct and indirect distribution channels can influence brand equity.
• Select promotional options that can impact brand equity.
• Use appropriate marketing mix components to build brand equity.
• Identify the stages for developing brand equity.

Topics Include

Unit 1: Determining Brand Equity Benefits

• Identify common advantages that brand equity provides.
• Explain the benefits of increased brand equity.
• Identify the sources of brand equity.
• Increase brand awareness.
• Improve brand image.
• Simulation Overview:
• In this simulation you are the Brand Manager of the Platinum P2 Personal MP3 Digital Audio Player. Platinum is a brand owned by Icon and it is struggling in the market place because consumers are not accepting the digital audio player. You are meeting with Don Hamilton and Kelly Landry to discuss ways to make this brand as successful as it has the potential to be. As the new Brand Manager you must find a way to increase the equity of the Platinum brand. Your goal is to present ideas on how to increase brand equity by increasing brand awareness and improving brand image.

Unit 2: Using the Marketing Mix to Build a Brand

• Identify the definition of perceived quality.
• Identify the importance of consumer perception of quality and value.
• Select the common issues to consider when developing a pricing strategy.
• In a given situation choose an appropriate pricing method.
• Develop a pricing strategy.
• Identify the characteristics of direct and indirect distribution channels.
• In a given situation develop an appropriate distribution strategy.
• Select promotional options that can have an impact on brand equity.
• Develop a promotion strategy.
• Simulation Overview:
• In this simulation you are the Brand Manager of Icon's latest addition to its family of brands TechMeld. The target market for the TechMeld 2000 is older children and young professionals who demand a sophisticated gaming atmosphere. You are meeting with Colleen Ford Terry Jones and Paul White to discuss how to bring this brand into the market. Your goals as a team are to reach a consensus on the marketing mix that will most effectively build brand equity in this new brand. You must determine the pricing distribution and promotion strategies.

Unit 3: Implementing a Brand Equity Strategy

• Sequence the stages for developing brand equity.
• Analyze the brand based on information provided by your team members.
• Develop a new identity for the brand.
• Select appropriate brand elements.
• Position the brand to communicate its identity.
• Identify when to alter brand strategy.
• Maintain brand equity.
• Simulation Overview:
• In this simulation you are the Brand Manager for the Marty Mouse animated toy. Its arrival in the market one year ago was a much-heralded event until several children were pinched and bruised by the motorized mouth of the toy. These unfortunate events caused a product recall and tarnished the reputation of Marty Mouse. The brand has not yet recovered. You are meeting with Greg Avery Caroline Harris and Linda Autry to discuss how to strengthen the brand. Your goals as a team are to agree on and implement a brand equity strategy that will improve the brand's image and increase its market share.

Duration

4

Minimum Requirements

The CDROM version of this course requires:

• At least a 486DX 33Mhz CPU.
• Microsoft Windows 3.1 or higher and a Microsoft compatible mouse.
• At least 8MB RAM.
• At least VGA graphics capability with a minimum 512K video RAM (1MB video RAM recommended).
• At least a double speed CDROM drive.
• An MPC compliant sound card with attached speakers or headphones is recommended (Currently only the CDROM version supports audio).

• At least a 486DX 33Mhz CPU.
• Microsoft Windows 3.1 or higher and a Microsoft compatible mouse.
• At least 8MB RAM and 22MB available hard disk space or file server space.
• At least VGA graphics capability with a minimum 512K video RAM (1MB video RAM recommended).

Media